Bitcoin Whale Moves $7.24M in BTC to Kraken After $91M Unrealized Profit Evaporates

A Bitcoin whale that once held about $91 million in unrealized profit has transferred 114 BTC worth $7.24 million to Kraken after a sharp reversal in the cryptocurrency erased those gains, according to blockchain analytics platform Lookonchain.

The wallet, identified by the prefix “bc1qwx,” bought 1,768 BTC for $131.91 million at an average price of $74,603 before Bitcoin’s bull run. When the cryptocurrency reached a record $126,080 on Oct. 6, 2025, the position’s unrealized profit had climbed to about $91 million, but the holder did not sell.

Bitcoin has since fallen about 50% from that peak to $63,604, leaving the whale with an estimated $19.7 million loss on the position, according to Lookonchain. 

Against that backdrop, the wallet deposited 114 BTC into Kraken. Lookonchain said the transfer indicated the holder may be preparing to sell.

Source: Lookonchain